GA Retraining Credit for Medical Practice
Situation
Radiation therapy for oncology medical practices is an area of rapid growth and high technology investment. One multi-location practice headquartered in the Atlanta area had undertaken a multi-year, multi-million dollar program of investment to upgrade technology, including:
- Electronic medical records system
- Linear accelerator X-Ray and electron beam treatment systems
- Treatment planning systems
A large number of training programs were implemented across the practice to retrain the professional and support staff in the proper use of the new technology.
Issues
The company was unaware of the availability of the GA Retraining Tax Credit and lacked the both the resources to manage the claim preparation process, and the sophistication to manage the large volumes of complex data manipulation required for the claim computation and preparation.
Outcome
finanSight worked with the client, its CPA firm, and the tax advisors of the major investors in the practice to recover a significant multi-year Georgia Retraining Tax Credit. finanSight continues to work with the practice to prepare and file for current and future retraining credits as the practice continues to invest to stay at the forefront of medical technology and trains its people to use the cutting-edge capabilities that are saving lives every day.